The Domain Holdings Group Ltd (ASX: DHG) share price is down 7% in early trade after the business behind popular property website domain.com.au reported a 13% drop in new listings over the period translated into a total 6% drop in group revenue.
Falling property prices and lower listings are no secret though (on the contrary they're pretty much the most popular daily news story / dinner party topic in Australia) and the stock is probably just losing some froth after gaining close to 30% on the back of a wider share market bull run in 2019.
Domain also flagged that over the year it now expects cost control to be marginally better than prior forecasts, with total costs for fiscal 19 now expected to increase by just low single digits compared to pro forma fiscal 18.
The news of falling listings and revenue out of Domain has also dragged REA Group Limited (ASX: REA) shares 4.5% lower to $76.92 this morning.
